Shares of Tonix Pharmaceuticals Holding Corp. (NASDAQ: TNXP) closed almost 4.3% higher on July 27. The price action follows the clinical-stage biopharmaceutical company’s agreement to buy an infectious disease R&D facility in Frederick, Maryland, from Southern Research, a research collaboration partner.
With the acquisition of the facility, Tonix targets to expand its infectious disease pipeline and enhance its R&D capabilities to boost the development of vaccines and antiviral drugs. The pipeline includes TNX-1800, a live replicating viral vaccine which is designed to safeguard against COVID-19, TNX-801, a live vaccine designed to protect against smallpox and monkeypox, and TNX-3500, a small molecule antiviral to restrain duplication of SARS-CoV-2.
Post-completion of all the relevant formalities and permits, Tonix anticipates the deal to close and the facility to become operational in the fourth quarter of this year.
Southern Research is likely to consolidate its research activities at its Birmingham, Alabama campus. Additionally, Tonix and Southern Research are expected to continue the ongoing aspects of their collaboration on the development of vaccines and antivirals at the Birmingham campus, the company said.
Tonix CEO Seth Lederman said, “We believe this facility will ensure adequate resources and capacity to support and grow our pipeline of vaccines and antiviral therapeutics. In addition, we view control of in-house facilities as a strategic capability to ensure the speed and efficiency with which we can develop vaccines and antiviral products in the future against known, emerging or novel pathogens.” (See Tonix stock charts on TipRanks)
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TipRanks data shows that financial blogger opinions are 100% Bullish on TNXP, compared to a sector average of 71%.